AJG vs PUMP: Correlation
How closely do Arthur J. Gallagher & Co. (AJG) and ProPetro Holding Corp. (PUMP) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AJG and PUMP?
Over the past 3 years, AJG and PUMP moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.26 over 3 years. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -420.2 %².
Out of 32 assets tracked against AJG, PUMP lands near the bottom at #31. Their recent paths diverged sharply: over the last 12 months PUMP outperformed by 140.1 percentage points (-11.9% for AJG against +128.2% for PUMP). One caveat on sizing: PUMP is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AJG vs PUMP: side by side
| AJG (Arthur J. Gallagher & Co.) | PUMP (ProPetro Holding Corp.) | |
|---|---|---|
| 1-year return | -11.9% | +128.2% |
| 5-year return | +91.1% | +45.4% |
| Volatility (ann.) | 25.0% | 65.1% |
| Beta vs S&P 500 | 0.36 | 0.73 |
| Max drawdown (3Y) | -44.4% | -59.1% |
| Market cap | $66.7B | $1.4B |
| P/E (trailing) | 43.1 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AJG | PUMP |
|---|---|---|
| 2022 | +12.4% | +28.0% |
| 2023 | +20.5% | -19.2% |
| 2024 | +27.3% | +11.3% |
| 2025 | -8.0% | +1.9% |
| 2026 | +1.2% | +17.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AJG and PUMP good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between AJG and PUMP?
The AJG/PUMP correlation stands at -0.26 on a 3-year window (1 year: -0.49, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is PUMP a good diversifier for AJG?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ajg-vs-pump.json
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Related comparisons
Hubs: AJG correlations · PUMP correlations
